Matrix and SEI move into property fund market

offshore

Matrix and Scottish Equitable International (SEI) are both entering the property fund market for the...

Matrix and Scottish Equitable International (SEI) are both entering the property fund market for the first time with offshore unit trust launches. The Matrix vehicle will carry performance fees based on rolling three-year returns, while SEI has expanded its offshore bond range to include a commercial property fund for the first time. Matrix's fund will be structured as a Guernsey-based unit trust and launches in September with a target yield in excess of 8%. The Matrix Number One fund, managed by Ian Blake and Rob Randall, will launch fully invested with around £504m in assets and a yiel...